The query many ask is why set up a personal limited firm? This query is asked mainly as a result of establishing an organization is prone to involve more administration and better costs then should you stay as a sole trader. The answer to this query issues your personal monetary liability. In case you are sole trader and your online business fails, you’re personally responsible for all of the business’ debts. This implies you are operating the danger of private chapter if it is a massive debt and you cannot afford to pay it. By organising a limited company you are protecting your self towards this.
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